LINK Hotel Singapore has been taken off the market after its owner, Hang Huo Investment, obtained a loan from Swettenham Capital to repay a S$51 million loan owed to DBS.

The loan, obtained in June, will provide S$55 million to Hang Huo Investment at an interest rate of 11 per cent per annum. It is secured by a mortgage over the hotel.

The sum will also go towards financing the working capital of Hang Huo Investment and repaying costs incurred in the loan process, parent company Link Holdings said in a Hong Kong Exchange filing on Jun 26.